If we really did what was necessary to bring the budget under control, it would probably start a Great Depression. On the other hand if we don’t, we will eventually drown in a sea of debt. So pick your poison.

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“In the past 30 years, we have used excessive money supply to rapidly advance our economy,” said Wu Xiaoling, vice chairman of the Financial and Economic Affairs Committee of China’s National People’s Congress”

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The coming months and years ahead are going to be affected by the out of control growth of today. The affects of a runaway money supply are well known. Anyone who is a student of economics knows what is going to happen next, but like all great bubbles, its impossible to time when they will pop. China is no different.”